Social responsibility border view
A broader view of social responsibility is a macro concept. A broader view of social responsibility refers to the business ethic towards society and culture. In broader views, ethics plays an important role in the modern era.
Generally, in broader views, social responsibility is an ethical theory in which individuals are accountable for fulfilling the civic duties that benefit the society as a whole. A broader view of social responsibility makes a balance between economic growth and the welfare of society and the environment. A broader view of social responsibility talks about the equilibrium that is maintained between these factors.
Not only people but companies in terms of broader views also engage in social responsibility called corporate social responsibility. In context to broader views of social responsibility, it focuses on both social awareness and self-management skills. In context to broader views, it facilitates awareness of how decisions can affect the macro environment. When talking about a broader view of social responsibility, corporate ethics, and corporate social responsibility are inseparable.
The term social responsibility was first used in 1960 when the companies felt the pressure from a society function in a more socially responsible manner. Therefore, social responsibility, in broader views, is the duty of the business to avoid harm to society. In a broader view of social responsibility, the company should also be concerned about the welfare of the society and should be attentive to the actions that could affect society as a whole. Social responsibility does not happen despite the best efforts of the individuals and the company as a whole, in broader views.
In a broader view of social responsibility, organizations need to look at four primary areas of social responsibility and act ethically in these areas. Based on a broader view of social responsibility, there are different types of CSR:
Economic and environmental aspects: In broader views of social responsibility, companies should maintain a keen financial interest to stay in the competitive market. Being profitable and providing value to the shareholders is a part of the company in being socially responsible. A broad view of social responsibility also deals and limiting pollution and reducing greenhouse gases. Apart from fulfilling their economic responsibilities, organizations should also focus on environmental responsibilities.
The organization, in a broader view of social responsibility, needs to take necessary steps to save the planet and preserve the environment from being getting polluted. Thus, the companies in a broader view of social responsibility perspective are concerned about the water pollution-reducing air undertaking necessary actions and fulfilling applications to be a good corporate citizen and also benefiting the society.
Legal aspects: Within the framework of broader views of social responsibility, a company must follow the rules and laws and should have a legal obligation to do so. For example, the chemical industry needs to follow certain obligations within the legal framework, keeping broader views of society responsibilities into consideration.
Ethical aspects: It relates to going above and beyond the legal requirements and meeting and exceeding the expectations of society. In broader views of social responsibility, it focuses on the welfare of the employees by ensuring fair labor practices. Considering a broader view of social responsibility, ethical labor practices include no gender, race, or religious discrimination among the employees— equal pay for equal work and also giving better living wage compensation also. An example of this is Google, whose employees have a high level of job satisfaction; they are well compensated and well paid for the work. Also, they are given free access to kitchens campus cafes and other options like breakfast lunch and dinner. The company has special seminars, training and, even a special and a separate division to look after and establishes corporate standards and policies.
Philanthropic aspects: In a broader view of social responsibility, it means to serve humanity. From the perspective of a broader view of social responsibility, it is expected that the companies should pay back to society in the form of money, goods, charitable donations, or supporting some noble cause. The organization pays attention to the well-being of the underprivileged or needy people who need support to sustain on this planet. Therefore donations are given to the body which supports causes like human rights natural disaster relief education programs or an outbreak of infections.
Thus, in a broader view of social responsibility, it refers to the morals and ethics made by the company for the betterment of the society in one way or the other. Keeping in mind broader views of social responsibility, the company can contribute in several ways to improve society. The company can donate money to nonprofit charitable organizations or using environmentally friendly policies in the workplace.
When in the context of broader views of social responsibility, it helps in gaining a competitive advantage over other competitors and also to build a reputation among society. Therefore companies should be responsible and should follow ethical policies in broader views that influence the way society judges the organization.
Advantage of Social Responsibility
In broader views, corporate social responsibility is a self-regulating business model that allows a company to be socially responsible not just to itself but also to its stakeholders and the surroundings. By practicing CSR in broader views, the company adds value to society and the environment without making a compromise with the business processes.
When considering broader views of CSR adoption, it is becoming increasingly popular all over the world. Some of the significant advantages of social responsibility are:
Improve the image of the company: When our company works towards broader views of social responsibility, it helps the company in developing a positive image. Social responsibility, in broader views, increases the goodwill that reflects positively on the image of the company. In broader views, the consumers will be more willing to buy the product and services because of the positive image of the company. Some examples are Unilever and Google that have been able to frame a socially responsible image of the organization by directly employing its employees in community development programs.
Attract and retain employees: In a broader view of social responsibility, the organization gets more recognition. It makes it easier for the organization to attract potential candidates who are seeking employment opportunities. By gaining goodwill through social responsibility activities, the employees are likely to continue to work with the company for a longer period.
A way to make employees feel that they have impacted society: Companies like Unilever and Google engages their employees in social development programs. In the context of a broader view of CSR, it gives a sense of feeling to the employees that they are doing something for the society and creates a positive impact in the mind of the employees.
Attract new investors: When an organization works for the society in broader views, it creates a favorable company reputation. Therefore, involving in CSR programs, it certainly boosts the organization’s image. Consequently, it leads to attract the number of investors and investment proposals from venture capitalists firms and even from the government organizations.
In good books of regulatory authorities: In broader views, when an organization starts doing CSR activities on a large scale, the regulatory authorities become less hostile towards the company. Moreover, the companies that have intense CSR work within the regulations of the government to gain the benefits.
A way to advertise the brand: When employing social responsibility in broader views, it gives the organization a certain level of publicity. Such publicity helps in the advertising of the brand, thus grabbing the attention of the customers and the prospective or potential customers.
Disadvantages of Social Responsibility
In broader views of social responsibility, it has its own set of challenges and problems. Acknowledging in the context of broader views, the difficulties of social responsibility for an organization to save the business and also determine how it can affect the business are as follows:
Customers can get impatient: In broader views, if the social responsibility program does not give instant results at times, people may think that it is only a public relations stunt, which is not good for the company’s reputation.
Rise in the cost of production: In broader views, social responsibility programs can increase the expenditure of the company.
Reputation of the company: In broader views, social responsibilities make it compulsory for the organizations to reveal the shortcomings of their products, which may lead in losing the faith if there are any flaws in the product and can harm the sales figure as well.
Therefore, in terms of broader views of social responsibility, the top-level management running the business organizations should understand that corporate social responsibilities should be a mandatory practice and cannot be ignored.
In broader views, social responsibility helps in improving the public image of the business houses, corporates and, entrepreneurs supporting nonprofit through volunteerism and help in monetary donations to build a credible and robust partnership with the consumers and the community. Such broader views of social responsibility assist in making headlines and get good media coverage, thus creating a favorable image in the mind of the customers and the society as a whole.